EToro to Acquire Crypto Wallet Startup Zengo in $70 Million Deal

EToro Group Ltd. has agreed to acquire Zengo, a crypto wallet provider, as the trading and investment platform expands its reach into decentralized finance.

The transaction is worth approximately $70 million and is mostly made up of cash, according to a person familiar with the terms who was not authorized to discuss the matter publicly. Zengo’s wallet allows traders to swap between tokens and fiat currencies, stake assets and access decentralized finance applications.